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CBRT to Step Up Support for Key Exporting Industries

TURKEY
  • Anadolu writes that CBRT are to increase the provision of rediscount loans further from the current cap of TRY 3bln - another part of the bank's efforts to target industries that encourage a healthier current account balance and improve foreign capital flows. The policy mix also helps lessen the reliance on the bank's FX-linked TRY deposits function.
  • Elsewhere, Ekonomi report that banks are in a race to attract further deposits, with year-end targets looming and helping to push deposit rates to tip as high as 50% in some cases.
  • US Secretary of State Blinken is set to meet with Turkey's foreign minister today, part of a series of meetings for Blinken today that include speaking with reps of Saudi Arabia and the Joint League of Arab States.

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